Pennsylvania Banking Questions & Answers

Q: I transferred some money from my bank through Bank of America and the money did not go through but is held by them.

1 Answer | Asked in Banking for Pennsylvania on
Answered on Oct 28, 2018
Peter N. Munsing's answer
You sure it was the real bank of America? This sounds odd. Your bank was the transfer agent so they should make you whole. But before you lay that on them.

Start by getting all the transaction documents. Then send them to the Banking Commission in Harrisburg and also to the Banking regulation division of the Federal Reserve Bank in Philadelphia.

Q: I have a joint account with my grandfather who passed away I December. I am the primary acct holder on the account.

1 Answer | Asked in Banking for Pennsylvania on
Answered on Sep 25, 2018
Cary B. Hall's answer
Call the bank to make sure it was a joint account "with right of survivorship" (sometimes abbreviated "JWROS"). If so, there's nothing you need to do and the money in that account is yours now.

Best of luck to you.

Q: Do I file bankruptcy?

1 Answer | Asked in Banking, Bankruptcy and Divorce for Pennsylvania on
Answered on Apr 12, 2018
Kathryn Hilbush's answer
If you have an attorney for your divorce, discuss this with her/him. When a bankruptcy action is filed, it places an automatic stay on all state court actions. That means that the PA court cannot proceed in your divorce action until either the bankruptcy has been completed or dismissed, or the bankruptcy court lifts it's stay at the request of the bankrupt (you.) You should also speak with a bankruptcy attorney about filing but be sure you discuss the impact on your divorce. Sometimes I'm told...

Q: My mother remarried and found an old bank account of deceased husbands. Why can she not access the money?

1 Answer | Asked in Banking, Divorce and Probate for Pennsylvania on
Answered on Mar 28, 2018
Michael Drew Raisman's answer
If the bank account is in her deceased husband's name, then she may need to open up his estate. The bank probably will not give her the funds until she begins probate. In that case, she'll either need to present the will to the Register of Wills (of which you would then be entitled to see), or it will go through intestacy in which case you may be entitled to part of it, depending on the amount of the bank account and any deductions payable through the estate.

I do not see why she...

Q: my mother is in the icu. Her boyfriend took her check book, wrote himself a check for 250 signed her name. what do I do?

1 Answer | Asked in Banking, Federal Crimes and Criminal Law for Pennsylvania on
Answered on Mar 22, 2018
Peter N. Munsing's answer
you need to notify the bank immediately if a check was paid on a "forged necessary endorsement"--namely her signature or the signature of the person using the check. He will have to put the money in the account. A problem may be that it sounds like he is in her house.

Q: How can I start & fund a business?

1 Answer | Asked in Banking, Business Formation and Business Law for Pennsylvania on
Answered on Dec 23, 2017
Nancy L Lanard's answer
Your question is way too broad to be answered in this forum. You should consult an experienced business attorney and accountant who can assist you figure out if you should operate as a corporation, limited liability company or a sole proprietorship. Additionally, the attorney would need an understanding of your business and business goals.

As far as funding, there are many ways to fund a business, and those should also be explored with your professional advisors, such as your...

Q: I am delinquent on my mortgage and I want to sell it to my sister in law and her father. Can I?

1 Answer | Asked in Banking and Real Estate Law for Pennsylvania on
Answered on Nov 3, 2017
Peter N. Munsing's answer
Obviously the mortgagor is part of it. If it is your property you can sell it for whatever you want. If there's something else that you haven't discussed then get a consultation with an attorney.

Q: Is it Legal, and Lawful to use a "Federal Reserve Note" in the place of a "United States Bank Note" and why?

1 Answer | Asked in Banking, Collections and Contracts for Pennsylvania on
Answered on Sep 12, 2017
Peter N. Munsing's answer
In a famous example a check was written on the back of a cow.

Basically you just say pay however many dollars it is. Dollars presumes the legal tender known as the dollar. Get all caught up in reserve notes and the like and you are in coin collector land (paper edition).

KISS rule applies to contracts. Plain English is good.

Q: Please Help Me. I was added to a deed before my dad passed away. The Real Estate Lawyer Was Paid, But never recorded it.

1 Answer | Asked in Banking and Real Estate Law for Pennsylvania on
Answered on Mar 20, 2017
Mark Scoblionko's answer
Your question is not clear, but I will do my best with the facts as I understand them.

First, I gather that the property was in the names of your father and mother. At one point, your father, without your mother, tried to add your name to the deed. That deed was lost and never recorded. However, since your mother did not join in that deed, it would have been a nullity. If I misunderstood, and your mother did join in the deed, since the deed was lost, you can just forget about it...

Q: we both are on the deed but only my critically ill husband is on the mtg loan.

1 Answer | Asked in Real Estate Law, Banking and Estate Planning for Pennsylvania on
Answered on Mar 16, 2017
Mark Scoblionko's answer
If you and your husband are both on the deed and own the property as tenants by the entireties, which, unless otherwise stated, is the way that you would own the property if you acquired it while you were married, the property would automatically pass to you upon his death. If that is the way you own the home, you and your husband must both be on the Mortgage, since, for a Mortgage to be valid, all owners of the property must sign it. It is possible, although it would be surprising, that only...

Q: Can a bank hold me responsible for my wife's action? She had an account alone and shorted the bank $900.00 can they take

1 Answer | Asked in Consumer Law, Criminal Law, Divorce and Banking for Pennsylvania on
Answered on Aug 22, 2016
Peter N. Munsing's answer
No. Contrary to popular belief one spouse is not responsible for the debts of another unless they agree. If the bank did this get a written print out of transactions, then ask for a written statement of why they claim they can do it. File complaints with the state banking commission and the Federal Reserve Bank in Philadelphia.

Q: Mortgage appraisal fees - due upon offer acceptance or once contingency issues are worked out?

1 Answer | Asked in Banking and Real Estate Law for Pennsylvania on
Answered on Aug 17, 2016
Peter N. Munsing's answer
Look at the contract. If the contract is silent then have your attorney write it in. But check your old contracts--should be covered.

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